Pink Sheets: WEESF
Considerable incremental oil production demonstrates Powerwave's ability
to enhance oil field economics
EDMONTON, June 9 /CNW/ - Wavefront Energy and Environmental Services Inc.
("Wavefront"), a world leader in providing innovative solutions for increasing
oil field production and enhancing the treatment of contaminated groundwater
is pleased to provide an update on oil production results related to Powerwave
with an Alberta-based oil and gas producer.
Increased oil production attributed to Powerwave at three installations,
operational since October, 2007 is 34,000 barrels. The 86 per cent increase in
oil recovery is above that which would have been produced based on the natural
production decline rate established for the three water injection patterns
where Powerwave is deployed. The incremental oil production is also
apportioned to 16 producing wells which surround the Powerwave installations.
"The considerable incremental oil production in this Alberta project
demonstrates Powerwave's ability to enhance the economics of an oil field,"
said Wavefront President and CEO, Brett Davidson. "Compared to the economic
and environmental cost of establishing more oil wells, Powerwave dramatically
increases overall oil recovery with minimal investment."
In the Powerwave-driven waterflood injection patterns there has also been
a notable decrease in the historical oil production decline rate of 3.4 per
cent per year prior to Powerwave to a present 1.0 per cent per year with
"Wavefront has long maintained that Powerwave will positively affect the
reservoir's natural production decline rate, extend field life, and help
increase overall oil recovery," said Mr. Davidson. "The 2.4 per cent reduction
in the rate of production decline in the Alberta Powerwave project validates
the confidence we have in Powerwave's capability. Results like these, as well
as successful results elsewhere are helping to make Powerwave an operator's
best option for fluid injection in secondary and tertiary oil recovery
About Wavefront Technology Solutions Inc.
Wavefront specializes in designing and developing leading-edge techniques
for oil well stimulation, improved oil recovery, and environmental groundwater
ON BEHALF OF THE BOARD OF DIRECTORS
WAVEFRONT TECHNOLOGY SOLUTIONS INC.
"D. Brad Paterson" (signed)
D. Brad Paterson, CFO & Director
Cautionary Disclaimer - Forward Looking Statements
Certain statements contained herein regarding Wavefront and its
operations constitute "forward-looking statements" within the meaning of
Canadian securities laws and the United States Private Securities Litigation
Reform Act of 1995. All statements that are not historical facts, including
without limitation statements regarding future estimates, plans, objectives,
assumptions or expectations or future performance, are "forward-looking
statements". In some cases, forward-looking statements can be identified by
terminology such as "may", "will", "should", "expect", "plan", "anticipate",
"believe", "estimate", "predict", "potential", "continue" or the negative of
these terms or other comparable terminology. We caution that such
"forward-looking statements" involve known and unknown risks and uncertainties
that could cause actual results and future events to differ materially from
those anticipated in such statements. Such factors include fluctuations in the
acceptance rates of Wavefront's Powerwave and Primawave Processes, demand for
products and services, fluctuations in the market for oil and gas related
products and services, the ability of Wavefront to attract and maintain key
personnel, technology changes, global political and economic conditions, and
other factors that were described in further detail in Wavefront's continuous
disclosure filings, available on SEDAR at www.sedar.com. Wavefront expressly
disclaims any obligation to up-date any "forward-looking atements", other than
as required by law.
THE TSX VENTURE EXCHANGE NEITHER APPROVES NOR DISAPPROVES THE CONTENTS OF
THIS RELEASE WHICH WAS PREPARED SOLELY AT THE DISCRETION OF MANAGEMENT
For further information:
For further information: D. Brad Paterson, CFO, (780) 486-2222 x224 Tel,